
Spain Plans €10.5 Billion ‘Sovereign Fund’ to Follow NextGen EU
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Spain is set to establish a €10.5 billion ($12.2 billion) sovereign fund aimed at sustaining economic support as the European Union's pandemic recovery initiatives come to an end. Prime Minister Pedro Sanchez announced this initiative, highlighting the need for continued investment in the country's economy. The fund is expected to play a crucial role in addressing the economic challenges that lie ahead.
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The announcement comes as the EU's extensive pandemic recovery programs are set to taper off, raising concerns about the sustainability of economic recovery in member states. Spain, which has been one of the hardest-hit countries during the pandemic, is taking steps to secure its financial future.
This article is for informational purposes only and does not constitute financial advice.
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